RBA decision looms

April 4, 2017

A relatively busy day for markets, with plenty of information for markets to sink their teeth into.

Later today, the RBA (Reserve Bank of Australia) meets to set interest rate policy. While there has been much talk of a change in interest rates (in either direction), it will be of interest to take note of the language used by the RBA Governor when releasing its decision. The last meeting was a pretty standard release which did not give too much away in terms of future economic strengths / weaknesses. The economy appears to be travelling along okay with no major misses or beats as far as economic data is concerned. This is also the second last RBA meeting before the Federal Budget is released on May 5. The RBA may hold steady on interest rates until the Budget is released and adjust accordingly, if need be.

Elsewhere around the world, Japan is releasing BoJ Core CPI, Europe is publishing Spanish Unemployment & European Retail Sales, the UK is reporting Construction PMI data, the US is releasing Trade Balance, Factory Orders & IBD/TIPP Economic Optimism and finally, Canada is reporting Trade Balance figures. Meanwhile, Fed Reserve Member, Daniel Tarullo and ECB President, Mario Draghi, are due to speak.